Accept everything in life with a smile: Hugging saint tells Mangalureans

Surathkal, Jan 4: The National Institute of Technology Karnataka (NITK) and the Indian Space Research Organisation (ISRO) have signed agreementsfor joint research and development of technology for application in space, a statement said here on Friday.

As part of the agreement, which was signed by P Venkatakrishnan, Director of ISRO CBPO Division and Prof Umamaheswar Rao, Director, NITK, ISRO will establish the Regional Academic Center for Space (RACS) at NITK.

Gadag, Apr 9: An 80-year-old woman who tested positive for COVID-19 passed away on Thursday due to cardiac arrest in Gadag, the district's Deputy Commissioner said.

She also had a history of Severe Acute Respiratory Infection (SARI). Her body was disposed of as per the protocol, officials said.

According to the Karnataka Government, 10 new positive cases have been reported in the State today, taking the total COVID-19 cases to 191, including 28 discharged patients and six deaths.

With an increase of 540 positive COVID-19 cases reported in the last 24 hours, India's tally of coronavirus cases has risen to 5,734, said the Ministry of Health and Family Welfare on Thursday.

Out of the 5,734 cases, 5,095 are active COVID-19 cases and 472 patients have recovered while 166 have died.

Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.